In my view, Spain made only one big mistake: joining the euro. Without that, it would probably now look more like the UK: yes, the economy would be in serious trouble, but its exchange rate and its long-term interest rates would both be far lower. After all, its fiscal position is even now no worse than the UK’s
Pengapolitikkurin í euro-økinum skapar trupulleikar fyri summi eurolond. Og tá er euro-limaskapur ein forðan fyri loysnum.
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